- Algotech’s AI-powered trading platform has raised over $3.6 million in its presale.
- The cryptocurrency market saw a decline in investor confidence due to rising interest rates.
- The US government sold a large amount of Silk Road BTC.
Cryptocurrency prices fell as interest rates and rate hike signals impacted the market. Bitcoin’s price slowed down to $65k on Tuesday, while a new project, Algotech ALGT, aims to stabilize it above $66,000 and continues to attract attention.
The crypto market seems to be stabilizing after a sharp drop
The market, including BTC, experienced a sharp drop on Tuesday, with stocks also falling due to investor uncertainty. BTC reached a low of $65k and Ethereum’s price dropped to $3,220. The Dow Jones Industrial also closed lower as Treasury yields and gold prices rose. This was caused by statements from Fed officials indicating that interest rates will likely stay higher for longer.
In addition, news of the US government’s sale of over $130 million worth of Silk Road-linked BTC triggered further downside action. Although the sale was announced in January, the market is still reacting negatively to this development.
However, there is still some positive news, as Bitcoin can recover if it stays above $66,500 and Ethereum above $3,340. Analysts at QCP believe that institutional adoption is just beginning and could have a significant impact on the market.
Algotech is gaining attention in the market
The cryptomarket is seeing increased adoption of new innovations. Decentralized Finance (DeFi) has seen a surge in popularity amid projections of a bull market. The trading space is also gaining momentum, with traders looking for the advantages of algorithmic and non-custodial trading. Algotech, a DeFi platform offering AI-powered trading, is set to redefine this space.
The Algotech whitepaper describes an advanced trading platform that uses AI and machine learning to create a data-driven solution. This minimizes emotional biases in trading and provides users with top-notch tools and trading signals to stay ahead in the market.
Algotech’s presale for ALGT tokens is gaining momentum
The presale for Algotech’s native token, ALGT, has recently launched. The token offers utility and governance features, with additional benefits for token holders such as discounts and a share of platform revenue. With over $3.6 million raised so far, this project could be one to watch as it is currently on presale for $0.08 and has the potential for significant growth.
Interested in learning more about Algotech? Check out their whitepaper or visit their website.
